What a week!
GameStop has caused a stir on Wall Street, Main Street, and Capitol Hill.
There’s not one person, child, or animal that has not talked about GameStop this week.
What’s happened has been truly remarkable because of the speed of information, social media, influencers, and the hyperventilated reporting that goes on nowadays. If you don’t shoot first and ask questions later, you are not reporting the right way. If you allow the truth to get in the way of a narrative or a good story, then you are doing it all wrong.
We have wolves dressed as sheep riling up the herd to take on other wolves.
We have a herd of sheep that truly believes that they can take on a pack of established wolves.
We have established wolves who look down and dismissed the herd of sheep for as long as we can remember; they call them dumb money.
But the wolves were stunned this week when the sheep landed a haymaker that more than likely will have long term repercussions. They let it be known that the game has changed, they are no longer the dumb money but a group to be reckoned with.
We have political enemies agreeing on a matter without truly knowing the entire story behind the issue. Ambulance chasing topics that have riled people up is a great way to trend on Twitter, and the politicians will not let this crisis go to waste.
Here is the thing though, the current situation has happened hundreds of times, dating back hundreds of years. Sure, maybe not with the same flare, not with so many eyeballs, or outrage, but it has happened. GameStop is not the first stock that has gone parabolic. GameStop is not the first stock or asset that a group of individuals has tried to corner. And this is not the first time that we have seen ‘Extraordinary Popular Delusions and the madness of crowds.’
In any event, what a time to be alive. I absolutely love these types of events, not because I have any desire to play in the crowd’s delusions and madness, but because this one of the only events that I enjoy being a spectator of.
Let me take you on a trip down memory lane, and then I will leave you off with the GameStop Twitter thread that I’ve started and update as new information comes in; facts, rumors, tips, gossip.
A year ago, right around this time, February 5th, 2020, to be exact, I wrote a blog post about how Tesla’s parabolic move was a concern for the overall market. I highlighted other examples in the blog post where we saw the crowd’s delusion and madness similar to what we see today but on a much lower decibel; $TLRY, $BYND, $SLV, $XIV, and Bitcoin. All of those situations led to a broad market pullback. Here is the post; Is Tesla’s Parabolic Move A Concern For The Overall Market.
Here is the link to the Twitter Thread that I’m updating as new information comes in; GameStop Storms The Capital, enjoy.
You can view over 400 of my trades here https://www.tradervue.com/shared/users/8059.